SCWorx Corp.
WORX Healthcare Health Information Services
SCWorx Corp.’s revenue for fiscal 2025 (year ended December 2025) was $2.9 million, down 3.75% from fiscal 2024. In the quarter to June 2026, revenue grew 3.43%, EPS grew 98.4% and free cash flow grew 88.0%, each against the same quarter a year earlier.
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SCWorx Corp. (WORX) Beneish M-score
SCWorx Corp.'s Beneish M-score for fiscal 2025 is −4.31; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −4.31 | (2.42) |
| FY2024 | −1.89 | 3.12 |
| FY2023 | −5.01 | (1.79) |
| FY2022 | −3.22 | 0.97 |
| FY2021 | −4.19 | 1.61 |
| FY2020 | −5.80 | 1.29 |
| FY2019 | −7.09 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.87 | — | 0.80 | |
| Gross margin index | 0.78 | — | 0.41 | |
| Asset quality index Asset quality not computable — index set to 1 | 1.00 | — | Set to 1 | 0.40 |
| Sales growth index | 0.96 | — | 0.86 | |
| Depreciation index Depreciation not reported — index set to 1 | 1.00 | — | Set to 1 | 0.12 |
| SG&A index | 1.39 | — | −0.24 | |
| Total accruals to total assets | (0.37) | — | −1.72 | |
| Leverage index | 0.32 | — | −0.11 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −4.31 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| ICCT iCoreConnect Inc. compare | −26.0× |
| ACON Aclarion, Inc. compare | −7.5× |
| MSPR MSP Recovery, Inc. compare | −6.3× |
| WORX SCWorx Corp. | −4.3× |
| VSEED VSee Health, Inc. compare | −4.2× |
| ZCMD Zhongchao Inc. compare | −4.2× |
| LGMK LogicMark, Inc. compare | −2.8× |
| MNDR Mobile-health Network Solutions compare | 3.4× |
| HLTHQ Cue Health Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI